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STEINHOFF INTERNATIONAL HOLDINGS LD - Voluntary announcement: Agreements concluded to acquire Kika-Leiner

Release Date: 26/06/2013 13:00
Code(s): SHF
Wrap Text
Voluntary announcement: Agreements concluded to acquire Kika-Leiner

STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/003951/06)
("Steinhoff")
Share Code: SHF       ISIN: ZAE000016176


VOLUNTARY ANNOUNCEMENT: AGREEMENTS CONCLUDED TO ACQUIRE KIKA-
LEINER

Introduction:

The Directors of Steinhoff are pleased to announce that
agreements were concluded, which if implemented, and subject
to certain conditions precedent, will result in Steinhoff
Europe AG or its Nominee ("SEAG"), acquiring the entire issued
share capital of the kika and Leiner groups of Companies
(“kika-Leiner”).

The kika-Leiner Group is one of the leading furniture retail
companies in Europe, with 7500 employees, shops in 73
locations, 50 of which are in Austria with the remainder of
the locations in Central and Eastern Europe, and yearly net
sales of approximately 1.2 billion euros. kika-Leiner was
founded 105 years ago in Austria by the Leiner and Koch
families.

Strategic Rationale:
kika-Leiner fits the Steinhoff’s geographical footprint as
Steinhoff’s current retail operations in Europe do not have a
footprint in Austria and have limited presence in Central and
Eastern Europe. kika-Leiner was built on solid foundations
and, as with the rest of the Steinhoff Group has secured it’s
future via the ownership of its owned properties, strong local
brands and focus on maximising value to the end consumer. It
is also envisaged that significant benefits will flow to both
Groups from collective sourcing and logistics operations and
other cross platform improvement strategies.

Commenting on the potential acquisition, the Chief Executive
Officer of the Steinhoff Group, Markus Jooste, said, “SEAG is
pleased to be associated with a group such as kika-Leiner.”

Basis of announcement:

This announcement is released solely for information purposes
in view of recent media speculation in Austria and in the
interest of good corporate governance and stock market
practices.

Wynberg, Sandton
26 June 2012
Sponsor: PSG Capital Proprietary Limited

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